Consumer Credit Questions and Answers

Understanding FICO Scores - New Credit

blog@creditadvocates.org (caccnyc) — Fri, 11 Sep 2009 18:55:00 +0000

Many aspects of a FICO score can be the balance of various pieces of consumer information. Opening a bunch of new accounts in a short period of time might put up a red flag to a creditor. How many...

Realistic solutions to consumer credit and debt issues.

Understanding FICO Scores - Types of Credit

blog@creditadvocates.org (caccnyc) — Wed, 09 Sep 2009 15:59:00 +0000

The FICO score is based on a mix of credit cards, retail accounts, installment loans, finance accounts, and mortgage loans. It is not necessary to have one of each account. It is also not a good idea...

Realistic solutions to consumer credit and debt issues.

Understanding FICO Scores - Length of Credit History

blog@creditadvocates.org (caccnyc) — Wed, 02 Sep 2009 15:15:00 +0000

Approximately 15% of the FICO score is related to the overall length of time your accounts have been in use. In general, a longer credit history will increase your FICO score. It is still possible to...

Realistic solutions to consumer credit and debt issues.

Understanding FICO Scores - Amounts Owed

blog@creditadvocates.org (caccnyc) — Tue, 18 Aug 2009 17:11:00 +0000

Having credit card accounts and having balances on them does not necessarily make you a high-risk borrower. However, when a high percentage of available credit is used up the FICO score can be...

Realistic solutions to consumer credit and debt issues.

Understanding FICO Scores - Payment History

blog@creditadvocates.org (caccnyc) — Thu, 06 Aug 2009 18:25:00 +0000

35% of your credit score will be based on your credit payment history. One of the most important factors a creditor will want to know is if you have paid your past credit accounts on time. It should...

Realistic solutions to consumer credit and debt issues.

Understanding FICO Scores

blog@creditadvocates.org (caccnyc) — Tue, 14 Jul 2009 17:31:00 +0000

As creditors become more and more particular about a consumer's credit history, it is very important to understand how a FICO score is calculated. A FICO score is the the scoring system that a credit...

Realistic solutions to consumer credit and debt issues.

Solutions to Consumer Debt - Bankruptcy

blog@creditadvocates.org (caccnyc) — Thu, 28 May 2009 18:09:00 +0000

Bankruptcy should be the last alternative when trying to resolve credit and debt issues. Bankruptcy is the process where an individuals debt is either eliminated or reduced under supervision of the...

Realistic solutions to consumer credit and debt issues.

Solutions to Consumer Debt - Debt Settlement

blog@creditadvocates.org (caccnyc) — Tue, 19 May 2009 19:17:00 +0000

Debt Settlement is an area that seems to be receiving quite a bit of attention with consumers these days. Debt Settlement can be done by a consumer, but often times third party groups step in and...

Realistic solutions to consumer credit and debt issues.

Solutions to Consumer Debt - Debt Consolidation

blog@creditadvocates.org (caccnyc) — Wed, 13 May 2009 21:21:00 +0000

In our continuing series of solutions to consumer debt, we will now take a look at debt consolidation. Debt consolidation should only be considered when one can consolidate debt to a lower rate, and...

Realistic solutions to consumer credit and debt issues.

Solutions to Consumer Debt - Debt Management Plans

blog@creditadvocates.org (caccnyc) — Tue, 12 May 2009 18:03:00 +0000

Our next topic for solutions to consumer debt will be debt management plans aka "DMP" A DMP is structured through a third-party (usually a credit counseling agency) who would work with the creditors...

Realistic solutions to consumer credit and debt issues.

Solutions to Consumer Debt - Self Help

blog@creditadvocates.org (caccnyc) — Fri, 24 Apr 2009 18:20:00 +0000

As mentioned previously, the first direction most consumers will go to is self help. The idea here is to handle credit card problems independently as an individual. One resource that many consumers...

Realistic solutions to consumer credit and debt issues.

5 solutions to consumer debt.

blog@creditadvocates.org (caccnyc) — Mon, 13 Apr 2009 16:38:00 +0000

I often meet with consumers who are very confused about what to do about their credit card debt. Usually these consumers have been snowballed with all types of information, both true and false. What...

Realistic solutions to consumer credit and debt issues.

Consumer Credit Questions and Answers

blog@creditadvocates.org (caccnyc) — Wed, 01 Apr 2009 17:46:00 +0000

I would like to give a quick hello to all that have found this blog. My name is Steven Burman. I have been working in the consumer credit industry since 1992. I currently serve as President to Credit...

Realistic solutions to consumer credit and debt issues.